Daily Briefing September 22 2020
Free to read: Libya export resumption uncertain | OSM takes over Fredriksen’s shipmanagement business | Low retail inventories boost transpacific demand
Good morning. Here’s our quick view of everything you need to know today.
The Lloyd’s List Daily Briefing is brought to you by the Lloyd’s List News Desk.
What to watch | Analysis | Opinion | Markets | In other news
What to watch
The second aframax tanker in eight months to load at Libya’s Es Sider terminal remains at anchor even as tentative signs emerge that oil production will resume this month in the north African country after being offline for most of 2020.
OSM, the Norwegian shipmanager, has agreed to acquire SeaTeam Management, the shipmanagement unit owned by John Fredriksen-backed firms.
Analysis
Poorly packed containers and misdeclared dangerous goods are the bane of the container shipping sector. One bad box can literally sink a ship.
A steep and sudden decline in retail inventory levels is likely to be behind the buoyant demand picture on the transpacific container trades, but the recovery could be short-lived as stock levels adjust to the new normal.
Opinion
The Lloyd’s List Podcast: Johannah Christensen of the Global Maritime Forum gives us insight into how one of the industry's leading actor in the decarbonisation space sees the efforts made elsewhere in the business and what it hopes to tackle during its most important meeting of the year next month.
Markets
Ship fuel stability concerns have risen as bunkers are being held in inventory for longer before consumption due to the economic slowdown caused by the pandemic-led health crisis.
Some project cargo surveys were missed in the early days of the pandemic, but workarounds based on videoconferencing have since been discovered, the International Union of Marine Insurance conference has heard.
In other news
Central and South America are in a prime position to take on the production and supply of zero emissions vessels, according to a study.
Cargo insurance loss ratios have hit “deeply concerning” levels and are likely to develop adversely, the International Union of Marine Insurance conference has heard.
Owners and flag states have been warned against cutting corners on safety and to avoid cuts to crewing numbers and rest time becoming a permanent effect of the pandemic.
MISC, the Malaysian shipping line, is finalising contracts with Chinese yards for the construction of its biggest floating production, storage and offloading vessel.
A crew-change fund set up by Singapore has received a boost with additional funding from international groups.
Dry bulk shipowners’ association Intercargo has called for an impact assessment of the move to include the shipping industry in the EU’s Emissions Trading Scheme.
Shipping organisation BIMCO has launched the industry’s first contract template for sale and leaseback agreements amid an upsurge in usage of this form of financing.
Maersk has halted imports to Sydney after a strike by port workers caused delays and diversions.